Vucic announces Serbia and Russia have agreed to extend gas arrangement; "NIS won't be stolen from Russia"

Photo: Tanjug/Video

President Aleksandar Vucic spoke on Tuesday at the Palace of Serbia, after attending a ceremony to award contracts to most successful graduates of medical high schools and universities.

Recommended

"We have reached an agreement to extend the gas contract (with Russia) for another three months," said Vucic.

He added that negotiations on a long-term gas arrangement will continue during that period, stressing that energy stability is one of the country's key priorities, especially in conditions of unstable international energy market.

Vucic previously stressed that the price of gas will remain unchanged over the next three months, which will ensure security of supply for both households and the industry, especially for energy-intensive branches of Serbia's industry.

According to him, the extension of the contract gives the state additional space to avoid sudden price shocks and to rationally plan budget expenditures.

The president added that Serbia is at the same time working on diversifying energy supply sources, investing in gas infrastructure and strengthening storage capacities, in order to, going forward, reduce dependence on short-term arrangements.

Speaking about the broader economic environment, Vucic assessed that maintaining a stable gas price is important for the citizens' living standard, but also for attracting investments.

Vucic stressed that the state will continue to pursue a policy that balances out social responsibility with fiscal sustainability.

The president also commented on the current situation regarding NIS (Petroleum Industry of Serbia).

"Just so people know, Serbia is more successful than many would like to portray our country. As for my alleged incompetence and lack of courage and strength to steal something from the Russians - well, I take pride in that," Vucic said, adding:

"I do not have the strength to steal or grab. We will wait until the very last possible moment, and then, we would not be stealing or grabbing, but paying for it. Serbia is today fighting for its citizens, but it also respects foreign investors and does not want to seize their property or capital. We are waiting for the Russians to finish their work, I hope they will complete it by January 15. I also hope there is the possibility that we will obtain an operating license (from the US, who imposed sanctions against NIS)."

(Telegraf Biznis)